Can I use bank statements as proof of income?
I turned 18 and wanted to apply for a credit card in about 1 year. I already have 1 secured but wanna get another one in about 12 months. I am "self employed", I take care of lands for my dads friend and get paid, not alot but its not bad for what I do. I get about 180 bucks a month. Can I use banking statements as proof of income? Say I deposit 180 bucks a week... will that show that I am earning income? even if I use the money afterwards? Can my dad make me a check.. say off about 600 dollars... every two weeks? at which point I can deposit it.. and take back some of the money to use it... if I do this every two weeks.. will it count as if I were getting paid 600 bucks biweekly? will that count as income?
Is showing a bank statement enough proof of income for a landlord to rent me an apartment?
I'm a landlord. I do a verification of employment on my tenants. IF they are self employed, they would need to provide documentation beyond just alot of cash in their acct. Cash in your acct is only impressive if the landlord is only worried about $$$. Landlords have to be concerned with liability too. I can't be renting my place to a drug dealer or a home day care provider. It brings tooo much liability. I have to protect myself so I require documentation. You will likely find a landlord that will take 6 mos worth of rent and not care but dont expect to be dealing with a good landlord. He probably wont care much about the property. IF you make $ online show documentation and what you do. Otherwise your sending up red flags to landlords. Good Luck!
Bank statement as proof of income.?
I want to rent an apartment but my job doesn't pay the 3 times the rent rule. I get money from a family member to help with bills. I make deposits of $450+ every Friday (my 2 paychecks and a check from family member). With their check and my two paychecks I make the income to rent it but are bank statements not reliable for apartments? I've made regular deposits every Friday for 6+months. Would you think I could get by with a statement?
If someone doesn't have a bank statement or pay slip from their previous company, but they do have all other relevant documents, i.e. an experience letter, etc., will it affect their chances of getting a new job?
It is not an issue to not have a bank statement or pay slip,You can always ask or previous employer to share the payslips ,if not ;then bank will provide you the bank statement atleast.the whole and sole reason for a company to ask for your payslip or bank statement is to validate the fact that you were a genuine employee of your previous company and check your previous salary structure .it is a big issue if you cannot provide the company with these documents , many of the fraudulent companies and firms issue fake experience letter and service letter , to infiltrate the genuine and fake experience letter you need to provide the salary slip and bank statements detail.Although even if fake candidates are selected companies do hire a third party background check who will verify everything mentioned by you during your selection process which if find any discrepancy in data will result in case of termination and legal complications as well.
Is it normal to give bank statements when renting a house?
Is it normal to give bank statements when renting a house?[Thanks for the A2A]It’s not unusual, though many landlords and management companies don’t request it.Consider: A pay stub only shows how much you’ve earned. It doesn’t show whether, to use your terminology, there’s “income availability.” You can have two different people earning the same amount of money. But their spending patterns can differ greatly. One has hundreds of dollars left over each month, even after paying rent. The other scrapes by from month to month.One may have relatively no debt. The other has a car payment, student loan payments, credit card payments, and medical bills. Same income, but vastly different abilities to pay.A bank statement shows both what’s going into your account (usually it’s mostly earnings) and what’s going out.That’s why some landlords want to see bank statements.
Does the Social Security Administration monitor your bank account if you have Social Security Disability Insurance Income?
SSDI - Not unless you owe the Federal Govt. money, such as taxes or student loans, also child support obligations.SSI - Yes. There is an agreement with the state, although you won’t find it even if you look, that if you receive Medicaid or Food Stamps, they can look into your bank accounts. This is besides the SSI, but can’t be garnished.You also have limits on SSI on your asset values, it varies by state, but most states the limit is $2,000 held in a bank account, especially if you use Medicaid or Food Stamps. SSDI = no limits.But don’t be fooled with SSI. States have something called “Medicaid Estate Recovery Program (MERP)”, please Google. This is essentially a state-run, full-time collection agency looking for you to abuse a state program. They can and do look at your bank accounts.I had Medicaid and Food Stamps. My DHS worker messed up my Food Stamp amount. 3 years later, I got called in to a DHS office, but it wasn’t them, it was the MERP jerks, threatening to have me arrested for over-payment of Food Stamps. It was DHS’s fault, but they do not care, at all. They are a bully collection agency approved by the govt. and they do whatever they want, inc. the ability to see your bank accounts.
Bank statements for auto loan?
I was pre approved for a loan with a solid interest rate with a down payment that is about 1/4th ($5k) of the total car price. My credit is in the high 600's and I've co-signed on 2 other cars. So I submitted all my paper work, including my bank statements. I get paid cash, so I submitted 3 months worth of statements as opposed to check stubs. For the first 2 months, I did not deposit my cash salary, I waited until the last month (February) to deposit it. Now my account shows about $12k in it currently. The other 2 months, it showed $4k and $5k. The total price of the car is $16k. The salesman told me he doesn't know how the bank will respond to this. He said they look for a large monthly deposit. I deposited about $8k this past month, which is what I made in the past 2 months. Is it unusual? Am I out of luck? Thanks.
I have a salary account in ICICI bank and am not using it for the last few months. Will this account close automatically? If yes, then after how much time? Or if this account is not closed will it harm my wealth?
Banks do not have rights to close any bank account. Banks can freeze account but are not allowed to close the same.Your account will not automatically get closed. You have to visit nearest ICICI bank branch and apply for closure of account.If accohnt is not closed, bank shall intimate you after one year regarding inoperative account and shall suggest you to acivate the account with any debit/credit in the account.The account shall get "Dormat account" if is inoperative for 2 years.If you want to close the dormat account, you have to first activate the same (by filling respective forms in branch) and than only you are authorized to close the account.As per regulations bank have to hold the amount in your respective bank account (even if balance is Rs 1)for next 10 years. 10 yrs later they shall issue a list in public domain with the name of account holder and transfer the unclaimed fund to RBI. (Approx 1700 cr is unclaimed amount with RBI till last four financial year)I advice you to close the account at the earliest as if salary is not credited in a salaray account for consecutive 3 months it will autonatically be converted into general saving bank account. In general saving acxount you have to maintain MAB (Monthly Average Balance) i.e usually (10k, 5k, 2k as per the city) .On non maintainance of MAB you shall be charged the penalty per months ( Rs 250 not sure) per month.I think In long time you may also get notice from bank to pay the outstanding amount.
Are schools allowed to ask for bank statements to give financial aid?
As non-merit financial aid becomes less available, universities are asking for more proof of income and assets. It is to your advantage to provide the documentation because if as you state, your family assets are less than they believe, the financial aid department will put you into consideration for university based aide to make up the difference financially for you to attend their school if you are their desired choice. As an example, I went to Xavier University and could not qualify for much non-merit based financial assistance because I owned property and had investments. However, because they really wanted me to attend and felt I would be an asset to the university, they totaled up my merit based scholarships, the in kind assistance and loans, compared that to the tuition and fees and my asset availability and investments, found a net difference in my favor and offered me additional funds to attend their school. I could have attended a publically funded state school just with what I had because their tuition for in state students was so much lower and I had been accepted. They have now to verify "estimates" before they can consider you for real money. I really think they are trying to help you here with their own additional university based scholarships, honor loans and assistance.